NEW YORK STATE REAL ESTATE SALESPERSON LICENSING EXAM
CORE QUESTIONS WITH SOLUTIONS A+ 2025/2026
✔✔What is another name for transfer of title to real property? - ✔✔Conveyance
✔✔What is it called when the government dictates how a property can be used? -
✔✔Zoning
✔✔Who issues real estate licenses? - ✔✔NY Department of State
✔✔Who oversees licensing and registration of mortgage bankers and brokers? -
✔✔NYS banking department
✔✔Which department oversees drinking water safety? - ✔✔Department of Health
✔✔Who determines commission? - ✔✔Principal/Client and the broker
✔✔What occurs when the agent represents the seller but also works in the best
interests of the buyer? - ✔✔Undisclosed dual agency
✔✔A real estate salesperson is what type of agent? - ✔✔Special
✔✔What clause in the deed describes the property? - ✔✔Legal descriptions
✔✔What type of income is partnership/investments? - ✔✔Portfolio
✔✔Whats the name of the policy that provides additional liability coverage beyond the
primary policy? - ✔✔Umbrella policy
✔✔What type of maintenance is fixing a leaky faucet? - ✔✔Corrective maintenance
✔✔What are property taxes based on? - ✔✔Assessed value
✔✔What is the market value? - ✔✔What the property will sell for in a competitive
marketplace
✔✔What is a loft lease? - ✔✔Its a lease for space that is not divided into rooms
✔✔Which types of commercial properties use percentage lease? - ✔✔Retail stores/
shopping malls
✔✔Who is responsible for the terms in the lease if the unit has been subleased? -
✔✔Lessee
, ✔✔What is the tang of private property by the government for public use called? -
✔✔Eminent Domain
✔✔How many years is a residential investment property depreciable for? - ✔✔27.5
years
✔✔How much profit can a single person claim from the sale of a personal residence
thats tax free? - ✔✔$250,000
✔✔What is the right to use another's land that falls short of ownership called? -
✔✔Easement
✔✔Joe was not paid for the supplies and labor he provided to homeowner Smith. What
kind of lien will he file against Smith? - ✔✔Mechanics Lien
✔✔What serves the same function as a circuit breaker? - ✔✔Fuse
✔✔What type of estate is created when only one person holds title to real property? -
✔✔Ownership in severalty
✔✔How much should the seller reimburse the buyer for refusing to provide a property
disclosure form? - ✔✔$500
✔✔Seller tells the listing agent he filed for bankruptcy the previous year. The seller ends
up not listing the property with the agent, Still, what fiduciary duty does the agent owe
the seller? - ✔✔Confidentiality
✔✔What type of financing is used to purchase a new property when the old property
hasn't been sold yet? - ✔✔Swing loan or bridge loan
✔✔Who is the borrower of a mortgage loan? - ✔✔Mortgagor
✔✔What does the Real Estate Settlement Procedures Act (RESPA) require? - ✔✔Good
faith estimate of the closing costs for federally funded loans
✔✔What is the right reserved for the condo association that gives them the first
opportunity to buy or lease a unit when it becomes available? - ✔✔Eight of first refusal
✔✔A coop is what type of ownership? - ✔✔Leasehold
✔✔What is the summary of the chronological history of title and related documents to
that called? - ✔✔Abstract of title
CORE QUESTIONS WITH SOLUTIONS A+ 2025/2026
✔✔What is another name for transfer of title to real property? - ✔✔Conveyance
✔✔What is it called when the government dictates how a property can be used? -
✔✔Zoning
✔✔Who issues real estate licenses? - ✔✔NY Department of State
✔✔Who oversees licensing and registration of mortgage bankers and brokers? -
✔✔NYS banking department
✔✔Which department oversees drinking water safety? - ✔✔Department of Health
✔✔Who determines commission? - ✔✔Principal/Client and the broker
✔✔What occurs when the agent represents the seller but also works in the best
interests of the buyer? - ✔✔Undisclosed dual agency
✔✔A real estate salesperson is what type of agent? - ✔✔Special
✔✔What clause in the deed describes the property? - ✔✔Legal descriptions
✔✔What type of income is partnership/investments? - ✔✔Portfolio
✔✔Whats the name of the policy that provides additional liability coverage beyond the
primary policy? - ✔✔Umbrella policy
✔✔What type of maintenance is fixing a leaky faucet? - ✔✔Corrective maintenance
✔✔What are property taxes based on? - ✔✔Assessed value
✔✔What is the market value? - ✔✔What the property will sell for in a competitive
marketplace
✔✔What is a loft lease? - ✔✔Its a lease for space that is not divided into rooms
✔✔Which types of commercial properties use percentage lease? - ✔✔Retail stores/
shopping malls
✔✔Who is responsible for the terms in the lease if the unit has been subleased? -
✔✔Lessee
, ✔✔What is the tang of private property by the government for public use called? -
✔✔Eminent Domain
✔✔How many years is a residential investment property depreciable for? - ✔✔27.5
years
✔✔How much profit can a single person claim from the sale of a personal residence
thats tax free? - ✔✔$250,000
✔✔What is the right to use another's land that falls short of ownership called? -
✔✔Easement
✔✔Joe was not paid for the supplies and labor he provided to homeowner Smith. What
kind of lien will he file against Smith? - ✔✔Mechanics Lien
✔✔What serves the same function as a circuit breaker? - ✔✔Fuse
✔✔What type of estate is created when only one person holds title to real property? -
✔✔Ownership in severalty
✔✔How much should the seller reimburse the buyer for refusing to provide a property
disclosure form? - ✔✔$500
✔✔Seller tells the listing agent he filed for bankruptcy the previous year. The seller ends
up not listing the property with the agent, Still, what fiduciary duty does the agent owe
the seller? - ✔✔Confidentiality
✔✔What type of financing is used to purchase a new property when the old property
hasn't been sold yet? - ✔✔Swing loan or bridge loan
✔✔Who is the borrower of a mortgage loan? - ✔✔Mortgagor
✔✔What does the Real Estate Settlement Procedures Act (RESPA) require? - ✔✔Good
faith estimate of the closing costs for federally funded loans
✔✔What is the right reserved for the condo association that gives them the first
opportunity to buy or lease a unit when it becomes available? - ✔✔Eight of first refusal
✔✔A coop is what type of ownership? - ✔✔Leasehold
✔✔What is the summary of the chronological history of title and related documents to
that called? - ✔✔Abstract of title
